Tanzania: Electrical Musical Instrument Market 2024

Electrical Musical Instrument Market Size in Tanzania

The Tanzanian electrical musical instrument market surged to $X in 2022, growing by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption recorded moderate growth. Electrical musical instrument consumption peaked in 2022 and is expected to retain growth in the near future.

Electrical Musical Instrument Exports

Exports from Tanzania

In 2022, overseas shipments of electrical musical or keyboard instruments decreased by X% to X units, falling for the third consecutive year after two years of growth. In general, exports recorded a abrupt shrinkage. The pace of growth was the most pronounced in 2018 with an increase of X%. The exports peaked at X units in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, electrical musical instrument exports fell markedly to $X in 2022. Over the period under review, exports showed a dramatic setback. The smallest decline of X% was in 2021. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X units) was the main destination for electrical musical instrument exports from Tanzania, with a X% share of total exports. Moreover, electrical musical instrument exports to the United States exceeded the volume sent to the second major destination, Democratic Republic of the Congo (X units), threefold. The third position in this ranking was taken by India (X units), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Democratic Republic of the Congo (X% per year) and India (X% per year).

In value terms, the largest markets for electrical musical instrument exported from Tanzania were India ($X), the United States ($X) and Canada ($X), with a combined X% share of total exports.

Canada, with a CAGR of X%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average electrical musical instrument export price amounted to $X per unit, picking up by X% against the previous year. Over the period under review, the export price, however, showed a abrupt slump. The most prominent rate of growth was recorded in 2017 when the average export price increased by X%. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was India ($X per unit), while the average price for exports to South Korea ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (X%), while the prices for the other major destinations experienced more modest paces of growth.

Electrical Musical Instrument Imports

Imports into Tanzania

Electrical musical instrument imports into Tanzania skyrocketed to X units in 2022, with an increase of X% on the year before. Over the period under review, imports saw a measured increase. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, imports reached the maximum in 2022 and are likely to continue growth in the near future.

In value terms, electrical musical instrument imports skyrocketed to $X in 2022. In general, imports continue to indicate a remarkable increase. The growth pace was the most rapid in 2018 with an increase of X%. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Indonesia (X units) constituted the largest supplier of electrical musical instrument to Tanzania, with a X% share of total imports. Moreover, electrical musical instrument imports from Indonesia exceeded the figures recorded by the second-largest supplier, India (X units), twofold. China (X units) ranked third in terms of total imports with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Indonesia amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and China (X% per year).

In value terms, the largest electrical musical instrument suppliers to Tanzania were Indonesia ($X), China ($X) and India ($X), with a combined X% share of total imports.

Among the main suppliers, Indonesia, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average electrical musical instrument import price amounted to $X per unit, with an increase of X% against the previous year. Overall, the import price continues to indicate noticeable growth. The pace of growth appeared the most rapid in 2013 when the average import price increased by X%. As a result, import price attained the peak level of $X per unit. From 2014 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United Arab Emirates ($X per unit), while the price for Italy ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform